Kenvue Inc. (NYSE:KVUE) Stake Boosted by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC grew its stake in shares of Kenvue Inc. (NYSE:KVUE) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,389 shares of the company’s stock after purchasing an additional 1,094 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Kenvue were worth $1,625,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Manchester Capital Management LLC grew its holdings in Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after buying an additional 530 shares in the last quarter. Mather Group LLC. bought a new position in Kenvue in the 1st quarter worth approximately $28,000. Pacific Capital Wealth Advisors Inc. bought a new position in Kenvue in the 4th quarter worth approximately $28,000. Oakworth Capital Inc. bought a new position in Kenvue during the 1st quarter valued at $31,000. Finally, MV Capital Management Inc. boosted its stake in Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 642 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

Shares of NYSE KVUE traded up $0.19 during mid-day trading on Friday, hitting $18.82. The company had a trading volume of 17,688,715 shares, compared to its average volume of 16,514,614. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The business’s 50-day simple moving average is $18.49 and its 200-day simple moving average is $19.44. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.43. The firm has a market cap of $36.04 billion, a P/E ratio of 24.13, a PEG ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business’s revenue was down 24.9% on a year-over-year basis. As a group, analysts predict that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.205 per share. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 4.36%. Kenvue’s dividend payout ratio (DPR) is currently 102.56%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KVUE. JPMorgan Chase & Co. decreased their price target on Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. HSBC increased their price objective on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Sanford C. Bernstein assumed coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price objective on Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Citigroup cut their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus price target of $22.45.

Kenvue Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.